Why People Sell Their Homes

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Posted by: Claire Belby on Wednesday, November 4, 2015 at 7:00:00 am

Why People Sell Their Homes

Maybe you are thinking of moving. Interest rates are low, that’s always a strong motivator for borrowers. Prices are also very healthy in central Indiana – sales prices have grown at a steady and predictable pace of four to six percent in central Indiana all year. So if you have a home to sell before you can move, chances are you’ll fetch a desirable asking price. But beyond the financial gain, why do people move?

A national profile of home buyers and sellers performed by the National Association of REALTORS® uncovers the motivations of sellers. The survey talked to those who sold between July 2013 and June 2014.

Among all home sellers, 15% decided to sell their current home because it was too small.

15% of sellers sold because of a job relocation.

10% of sellers cited the neighborhood becoming less desirable or a change in family status as their primary motivation.

Repeat sellers sold to move closer to friends and family, because their home was too large or for retirement reasons at a higher rate than any other selling group.

47% of sellers purchased a more expensive home and 53 purchased a newer home.

88% of sellers used a REALTOR®. Among that group 83% said they definitely or probably use that agent again or recommend then to others.